Pages:
Author

Topic: Your betting budget - page 11. (Read 4966 times)

legendary
Activity: 2996
Merit: 1054
Leading Crypto Sports Betting & Casino Platform
July 28, 2021, 02:00:33 PM
Consider that its often best not to spend it all at once.  Budgetting actually increases chances of success I think as it gives more then one attempt for the same amount spent, where as no budget can lead to just a dead end of having no money left rather choosing not to spend more that day.   The only real way to beat the game or increase luck seen is via a plan and a budget is part of that.

Budgeting is necessary because you cannot follow the rules which is to gamble what you can afford, when you say "you can afford" that means there's a figure that you  should know and you should not spend or risk money beyond that amount.

Important piece of enjoying while you are into this entertainment, budgetting will give you more time as you don't

need to spent everything at once, you can limit yourself to use portions of your bankroll and after that you need to stop.

If you managed to control this and you are good working with the system, it will increase your chance to win if each time you are done,
you learn something and use it in your next game.
hero member
Activity: 2884
Merit: 794
I am terrible at Fantasy Football!!!
July 28, 2021, 01:48:27 PM
If you say you're saving even 1% of your income intended for gambling, then I can say you're slowly drowning into addiction.
Not true. Not everyone is addicted because they use it as recreational that it like saying if you save some of your money for alcohol or games on the weekend that is addiction when its not. Addiction is a medical condition when it starts to effect your body or health which is not the case if you are saving only a fraction of what you earn. 

If you carefully read my statement I said "you're slowly drowning yourself into addiction." that doesn't mean you'll get addicted right away. The length of time may differ, and the chances of you not getting addicted is still there.
What I'm trying to say is that, If you make a budget specifically intended for gambling, It could lead you to addiction, that's the same reason why I said, there should be no specific amount you save intended for gambling.
Nevertheless, you're right addiction is a mental condition that a person is somehow unaware of that he's already been addicted.
I do not know, to me it makes more sense to have a budget precisely to avoid losing control of your gambling, after all if you take care of all your needs and responsibilities and you assign a small portion of your disposable income towards gambling and you never go above it and you always respect it then the chances that you will develop any kind of psychological need to gamble will not be there as by limiting the money you spend when you gamble you are also limiting the time you are exposing yourself playing the games.
legendary
Activity: 2940
Merit: 1083
July 26, 2021, 11:11:36 AM
Budgeting is necessary because you cannot follow the rules which is to gamble what you can afford, when you say "you can afford" that means there's a figure that you  should know and you should not spend or risk money beyond that amount.

You can still follow the path of affording to lose the amount you used on gambling without making a budget dedicated for betting.

Sometimes, the more you dedicate a budget for it, the less chance you follow it since while doing gambling, you are happy especially when winning so you want just to play and once you are on a losing streak, there's a thing in your mind that we need to gamble more so that we can cover the losses.

Just be to yourself. Chillax and relax no matter how hard it is when losing. In that way, even we don't set a budget, we can minimize the amount we probably have to lose if we continue.
legendary
Activity: 1778
Merit: 1009
Degen in the Space
July 26, 2021, 09:31:12 AM
I think in addition to limiting the budget for games there is another good way to minimize the emergence of gambling addiction. It is about abstaining from any gambling for a certain period (everyone defines this period independently).

For example, if you usually play once a week on Sundays then try to abstain from playing on the next Sunday and devote this time to family friends or other favorite things.

A good suggestion to even get out of addiction. If one is able to successfully follow what you said, then slowly he can try to avoid multiple attempts. Its not going to happen over night , but yes it would be easier when its practiced constantly. Instead of separating a percentage of income for gambling, its well appreciated that this percentage is spent for other good things which would really satisfy the family. Slowly the percentage amount taken for gambling can be reduced and diverted into some other priority stuffs.  
Yes, it is preferable to practice and keep self-discipline so that you can concentrate on other things except gambling. It is extremely difficult to recover from addiction, but if you put forth the effort and time to help others, you will be successful. There are several ways to spend your money, as well as numerous forms of amusement that will improve your mental health. Gambling should be entertaining for you, not a way to get rich or make money by chasing the win because, in that way, it'll trigger your addiction to gambling.
sr. member
Activity: 2366
Merit: 305
Duelbits - $100k Bonus/week
July 26, 2021, 09:01:20 AM
I think in addition to limiting the budget for games there is another good way to minimize the emergence of gambling addiction. It is about abstaining from any gambling for a certain period (everyone defines this period independently).

For example, if you usually play once a week on Sundays then try to abstain from playing on the next Sunday and devote this time to family friends or other favorite things.

A good suggestion to even get out of addiction. If one is able to successfully follow what you said, then slowly he can try to avoid multiple attempts. Its not going to happen over night , but yes it would be easier when its practiced constantly. Instead of separating a percentage of income for gambling, its well appreciated that this percentage is spent for other good things which would really satisfy the family. Slowly the percentage amount taken for gambling can be reduced and diverted into some other priority stuffs.  
legendary
Activity: 3080
Merit: 1292
Hhampuz for Campaign management
July 26, 2021, 08:32:22 AM
Just a general question regarding the betting budget. How much budget do you allocate or afford to risk in betting ?  100$, 500$, 1000$ or maybe even more ?  Also if you are rich you can afford to play with more money as compare to the person who is living hand to mouth.

I'm not a rich man, but I'm not poor without money either... Sometimes my budget is $200-300, but sometimes I also make a bet the size of my budget... For me betting is more fun than a way of making money... I think the budget is controlled by professional gamblers and not amateurs like me...
Controlling means we  are funding according to how much we can afford to spend and since you have yours then you are not different from those who has controls in their gambling budgets.
Your budget depends on your income, if you are a billionaire, you can afford to gamble millions or hundreds of thousands of dollars, but for other people, this is already a huge amount of moment that could change their lives. We don't have different financial status in life, but our bet should not be big in order to enjoy gambling, we just have to gamble based on our range.
sr. member
Activity: 2618
Merit: 439
July 26, 2021, 06:37:39 AM
Just a general question regarding the betting budget. How much budget do you allocate or afford to risk in betting ?  100$, 500$, 1000$ or maybe even more ?  Also if you are rich you can afford to play with more money as compare to the person who is living hand to mouth.

I'm not a rich man, but I'm not poor without money either... Sometimes my budget is $200-300, but sometimes I also make a bet the size of my budget... For me betting is more fun than a way of making money... I think the budget is controlled by professional gamblers and not amateurs like me...
Controlling means we  are funding according to how much we can afford to spend and since you have yours then you are not different from those who has controls in their gambling budgets.
hero member
Activity: 2828
Merit: 518
July 26, 2021, 06:20:22 AM
Consider that its often best not to spend it all at once.  Budgetting actually increases chances of success I think as it gives more then one attempt for the same amount spent, where as no budget can lead to just a dead end of having no money left rather choosing not to spend more that day.   The only real way to beat the game or increase luck seen is via a plan and a budget is part of that.

Budgeting is necessary because you cannot follow the rules which is to gamble what you can afford, when you say "you can afford" that means there's a figure that you  should know and you should not spend or risk money beyond that amount.
legendary
Activity: 2338
Merit: 1124
July 26, 2021, 03:19:14 AM
Those gamblers can aim for profit, but they need to realize the other thing, such as luck, because no matter what, we need the luck to profit from gambling games. And with discipline and self-control, that will make us know when to stop playing and do not spend more money because that will add more risk. Playing gambling with a small budget is okay as we are afraid to lose much money, which the gambler should do. As long as we can manage the money for playing gambling, that will not be a problem.
This is basically just the extra part of the world of gambling instead of the usual known things. Sure luck plays a part for everyone but there is no need to say that if it works for everyone, we need to focus on the fact that experience and talent plays a big role because that is not at everyone, it is only applied to certain people.

These are not really very important things in life that you should be focusing on of course, it is gambling and you should only leave a small amount of time to gambling, if you make it a big deal for you then you are not going to be happy with the result neither, it is going to bog you down and it will make you miserable. Any veteran would know that if you are gambling more frequently than 2 days a week then you are making gambling a life style and that is going to hurt you in the long run, nobody would want that to happen.
STT
legendary
Activity: 4102
Merit: 1454
July 25, 2021, 11:28:06 AM
Consider that its often best not to spend it all at once.  Budgetting actually increases chances of success I think as it gives more then one attempt for the same amount spent, where as no budget can lead to just a dead end of having no money left rather choosing not to spend more that day.   The only real way to beat the game or increase luck seen is via a plan and a budget is part of that.
legendary
Activity: 2310
Merit: 2073
July 25, 2021, 11:19:16 AM
I think in addition to limiting the budget for games there is another good way to minimize the emergence of gambling addiction. It is about abstaining from any gambling for a certain period (everyone defines this period independently).

For example, if you usually play once a week on Sundays then try to abstain from playing on the next Sunday and devote this time to family friends or other favorite things.
legendary
Activity: 2996
Merit: 1054
Leading Crypto Sports Betting & Casino Platform
July 25, 2021, 10:36:38 AM

I would agree to that. Having a fixed limit for gambling is always a good option so that we do not lose more than we could afford.
At the same time it does not mean that we gamble frequently since that can lead to addiction.
We can restrict ourselves from gambling frequently and gamble only when we have extra money to gamble with while still limiting it to a fixed amount.



It helps a lot as you can continue your life without worrying that you spend such amount that you can't let go, budgeting and setting your limits is also very effective way to avoid getting addicted.

Using amount that you are willing to let go won't ask you to deposit for more, I mean if your bankroll already wipe out, you can exit the gambling house without thinking of adding more fund to play again and try finding your luck.

Exit with enjoyment and contentment whatever the result it brings you.
hero member
Activity: 2702
Merit: 716
Nothing lasts forever
July 25, 2021, 10:28:49 AM
I think he is wrong with counting. Or he is highly gambling addicted person who needs medical help. No one in his right mind will not spend such amounts into gambling (except cases described above)

Speaking of the same how much % of your total income do you put into gambling ?

It should have no specific amount, instead you only put money on gambling when you have spare money after you paid all your bills, necessities, and mortgage.
There should always be no budget for gambling purposes. It would always come randomly when you have extra money to spend on unnecessary things.
If you say you're saving even 1% of your income intended for gambling, then I can say you're slowly drowning into addiction.

We all have different perspective and income range anyway, but gambling with huge amount has never been a good idea no matter how rich you are.

Having specific amount would be better imo as long as he can stick on that number anytime he is going to gamble. Also, setting our budget for gambling lets say 1% of our monthly salary does no mean that we should spend it every month. It is just a limit anytime we are going to gamble. In other side, if you spend the spare money after paying daily/monthly needs, it can be something big depends on your monthly income and your expenses. i.e Your monthly income is $10k and your expenses for a month is $5k, means that you have $5k spare money to gamble. In this case, having a limit such as 1% is better because you will spend $100 only. Coming up to the chance of getting addicted, no mattter you use spare money only or you have a monthly limit, it can lead you into addiction if you cant control yourself.

I would agree to that. Having a fixed limit for gambling is always a good option so that we do not lose more than we could afford.
At the same time it does not mean that we gamble frequently since that can lead to addiction.
We can restrict ourselves from gambling frequently and gamble only when we have extra money to gamble with while still limiting it to a fixed amount.

hero member
Activity: 2576
Merit: 684
God, save BTC!
July 25, 2021, 10:22:05 AM
Just a general question regarding the betting budget. How much budget do you allocate or afford to risk in betting ?  100$, 500$, 1000$ or maybe even more ?  Also if you are rich you can afford to play with more money as compare to the person who is living hand to mouth.

I'm not a rich man, but I'm not poor without money either... Sometimes my budget is $200-300, but sometimes I also make a bet the size of my budget... For me betting is more fun than a way of making money... I think the budget is controlled by professional gamblers and not amateurs like me...
legendary
Activity: 2478
Merit: 1951
Leading Crypto Sports Betting & Casino Platform
July 25, 2021, 09:44:57 AM
What's the point in these numbers without specifying what percentage of income they are? In some countries, $ 500 is a monthly salary, and in some it is just a week's salary. The standard of living is too different, therefore, it is more correct to indicate the percentage of income, so it is immediately clear how much a person loves gambling.

Yes, thanks for pointing this out.  I would rephrase my question as "what percentage of your income do you allocate to gambling or betting" ?

Also another question arises here that whether the people who have higher standard of living are more involved in gambling ?

Speaking for myself, this is no more than 5% of the total income per month. Considering that I am not a very active gambler, I do not spend this amount every month, sometimes I don’t play for several months in a row. And I noticed that this percentage is roughly the balance point that is often mentioned in this topic.
hero member
Activity: 2912
Merit: 541
Leading Crypto Sports Betting & Casino Platform
July 25, 2021, 08:25:47 AM
Managing your money at a casino requires self-control. Nice to see that you have full control over your money reserved for gambling purpose. Successful casino gamblers understand the math and odds behind the games, but discipline with money is also critical.

I think many casinos now are concerned about this and they provide something like vault system to people can maintain their money. and it's true self control is very important in managing anything. Back to the initial point in the betting budget, it all depends on the individual and their goals. if for fun maybe only a few % for their asset but for those who are looking for profit most of them put big capital for sure.

It really is, if you are a high or low roller and of course, your financial situation. It is hard to bet big if you are just relying from your work money. A lot of high rollers have their own businesses. In my case, I'm just a small time player, using only extra funds to bet. So whenever I log in, I know already how much I can "waste" on the games. I say "waste" because most of the time, I will use all my funds that I deposit before I stop playing.
For me, gamblers with a short time with little money are still possible to aim for profit, so big and small money management must still be considered. Because with such discipline at least the budget for gambling can be minimized and not maximized, because if you think a small budget is just a waste it allows you to continue to make small but frequent deposits. This will actually be more dangerous for your finances.
Those gamblers can aim for profit, but they need to realize the other thing, such as luck, because no matter what, we need the luck to profit from gambling games. And with discipline and self-control, that will make us know when to stop playing and do not spend more money because that will add more risk. Playing gambling with a small budget is okay as we are afraid to lose much money, which the gambler should do. As long as we can manage the money for playing gambling, that will not be a problem.
legendary
Activity: 3486
Merit: 1055
Leading Crypto Sports Betting & Casino Platform
July 25, 2021, 07:27:25 AM
Managing your money at a casino requires self-control. Nice to see that you have full control over your money reserved for gambling purpose. Successful casino gamblers understand the math and odds behind the games, but discipline with money is also critical.

I think many casinos now are concerned about this and they provide something like vault system to people can maintain their money. and it's true self control is very important in managing anything. Back to the initial point in the betting budget, it all depends on the individual and their goals. if for fun maybe only a few % for their asset but for those who are looking for profit most of them put big capital for sure.

It really is, if you are a high or low roller and of course, your financial situation. It is hard to bet big if you are just relying from your work money. A lot of high rollers have their own businesses. In my case, I'm just a small time player, using only extra funds to bet. So whenever I log in, I know already how much I can "waste" on the games. I say "waste" because most of the time, I will use all my funds that I deposit before I stop playing.
For me, gamblers with a short time with little money are still possible to aim for profit, so big and small money management must still be considered. Because with such discipline at least the budget for gambling can be minimized and not maximized, because if you think a small budget is just a waste it allows you to continue to make small but frequent deposits. This will actually be more dangerous for your finances.
full member
Activity: 1904
Merit: 138
★Bitvest.io★ Play Plinko or Invest!
July 25, 2021, 06:51:21 AM
Managing your money at a casino requires self-control. Nice to see that you have full control over your money reserved for gambling purpose. Successful casino gamblers understand the math and odds behind the games, but discipline with money is also critical.

I think many casinos now are concerned about this and they provide something like vault system to people can maintain their money. and it's true self control is very important in managing anything. Back to the initial point in the betting budget, it all depends on the individual and their goals. if for fun maybe only a few % for their asset but for those who are looking for profit most of them put big capital for sure.

It really is, if you are a high or low roller and of course, your financial situation. It is hard to bet big if you are just relying from your work money. A lot of high rollers have their own businesses. In my case, I'm just a small time player, using only extra funds to bet. So whenever I log in, I know already how much I can "waste" on the games. I say "waste" because most of the time, I will use all my funds that I deposit before I stop playing.
sr. member
Activity: 1512
Merit: 326
July 25, 2021, 06:19:32 AM
Managing your money at a casino requires self-control. Nice to see that you have full control over your money reserved for gambling purpose. Successful casino gamblers understand the math and odds behind the games, but discipline with money is also critical.

I think many casinos now are concerned about this and they provide something like vault system to people can maintain their money. and it's true self control is very important in managing anything. Back to the initial point in the betting budget, it all depends on the individual and their goals. if for fun maybe only a few % for their asset but for those who are looking for profit most of them put big capital for sure.
full member
Activity: 1134
Merit: 105
July 25, 2021, 05:18:53 AM
Just a general question regarding the betting budget. How much budget do you allocate or afford to risk in betting ?  100$, 500$, 1000$ or maybe even more ?  Also if you are rich you can afford to play with more money as compare to the person who is living hand to mouth.

What's the point in these numbers without specifying what percentage of income they are? In some countries, $ 500 is a monthly salary, and in some it is just a week's salary. The standard of living is too different, therefore, it is more correct to indicate the percentage of income, so it is immediately clear how much a person loves gambling.

Yes, thanks for pointing this out.  I would rephrase my question as "what percentage of your income do you allocate to gambling or betting" ?

Also another question arises here that whether the people who have higher standard of living are more involved in gambling ?
Pages:
Jump to: